Jumio Sales Up 176 Percent in Q4 Update

“The company says that its solution has now performed more than 100 million identity verifications, up from 50 million just ten months ago.”

For its fourth quarter, Jumio nearly doubled its annual recurring revenues compared to Q4 2016, bringing them up 96 percent year-over-year, the company has announced. Sales, meanwhile, grew by 176 percent over that same period.

It’s the latest chapter in the story of Jumio’s rapid ascent over the past couple of years, and a testament to the growing popularity of mobile, biometric KYC solutions, especially in the financial services sector. Jumio’s technology enables facial recognition and ID document reading through a standard smartphone camera, together with eyeball tracking for liveness detection, and thus offers businesses an easy-to-implement solution that allows them to verify and even onboard customers remotely – and they are evidently taking Jumio up on the offer. The company says that its solution has now performed more than 100 million identity verifications, up from 50 million just ten months ago.

Other 2017 highlights included in Jumio’s Q4 update include the company’s opening of new offices in London, New York, and Rajasthan, India; its partnerships with BlueTurtle, Branddocs, and GlobeOne; and its hiring of CTO and Chief Scientist Labhesh Patel, as well as Global Head of Marketing dean Nicolls. Jumio will carry this momentum forward into next week’s ICE Totally Gaming 2018 expo in London and Money20/20 Asia in Singapore later this month, where it will show off its Netverify ID solution to attendees.

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February 1, 2018 – by Alex Perala